Can Truss heal the divisions within her party?
Coffee House Shots
The Spectator
4.4 • 2.2K Ratings
🗓️ 10 October 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
Also on the podcast, after Truss appointed Sunak ally Greg Hands as Minister of State for Trade Policy, is she extending an olive branch to unite her party?
Natasha Feroze speaks to James Forsyth and Katy Balls.
Produced by Natasha Feroze and Oscar Edmondson.
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Transcript
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| 0:00.0 | This episode is sponsored by Canacord Genuity Wealth Management. |
| 0:04.0 | Experienced Wealth planners and investment managers |
| 0:06.7 | who offer unwavering support in challenging times. |
| 0:09.8 | Visit kandewelft.com for more information. |
| 0:16.8 | Hello and welcome to Coffee Health Shots, |
| 0:18.6 | the Spectators' Daily Politics Podcast. |
| 0:21.2 | I'm Natasha Froze and I'm joined by Katie Balls and James Forsyth. |
| 0:26.1 | So, to kick off the Monday, there has been a new announcement |
| 0:29.2 | that quasi-quoting has decided to bring forward the OBR's forecast to the 31st of October. |
| 0:35.6 | James, what could this do in terms of stabilising the market? |
| 0:39.0 | So, he is bringing forward both the OBR forecast and his medium-term physical event. |
| 0:43.8 | This means it will now happen before the Bank of England meets to decide on interest rate rises |
| 0:49.2 | on the 3rd of November. Now, the significance of this is that if this medium-term |
| 0:55.1 | physical forecast calms the market by pointing to kind of future spending restraint, |
| 1:00.0 | the Bank of England could then say, well, look, because physical policy has been tightened, |
| 1:04.5 | we don't need to raise interest rates by as much as we were previously planning to do. |
| 1:09.5 | The risk of it is it is quite hard to see where the spending cuts that would be needed |
| 1:15.7 | to balance the books will come from. And I mean, if the government just says, oh, |
| 1:19.0 | everything depends on unspecified cuts from 2025 to 2027, |
| 1:23.7 | I mean, the markets will see through that. There is a risk here. I also think there is a |
| 1:28.2 | timing point. This means that decisions on spending will need to be taken this week. |
| 1:33.6 | That is very, very, very rapid. I think one of the lessons of the not-so-many-budget was |
... |
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